Tyre companies get some relief in CCI cartelisation case from NCLAT
News:
As per regulatory filing by various tyre companies, the National Company Law Appellate Tribunal (NCLAT) has asked the Competition Commission of India (CCI) to review the cartelisation order against domestic tyre companies alluding at cartelisation in terms of pricing their products in the replacement market and also recomputing the penalty in a realistic manner (in case required)
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This is a relief for tyre companies, which had been accused and fined for controlling pricing against customer interests in the replacement market for a certain period of time. We expect tyre stocks to react positively to this development with prominent names in our coverage being Apollo Tyres and JK Tyres
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